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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Investment properties
226 Park Ave Worcester, MA 01609-2242
Entity Owned
1-yr Hold
Property ID
US38-0406482
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
FRAME
Total area
6,182 SF
Lot
0.18 ac (7,955 SF)
Zoning code
BO-1
APN
WORC M:11 B:008 L:00022
UPID
US38-0406482
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Keating & Associates Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$686k
Blend (final)
Blend
$980k
Owner & transaction history
Jae Wor LLC · 1 yrs held
Jae Wor LLC
since 2025
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
BO-1 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+71.3%
Auto repair, garage
$1.1M
+40.7%
Retail stores
$905,000
+20.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Worcester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Worcester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$895,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$1,390,000
6.5%
$1,285,000
7%
$1,190,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$750,000
Current use
RESTAURANT
$1,285,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,055,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$905,000
Change: +20% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$770,000
Change: +3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$740,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$620,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±10% · vs last sale $1.05M (Jan 8 2025)
Last sale anchor
$1.05M
Jan 8 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$159 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$561,100
Assessed 2024
Previous assessed
$663,300
-15.4% YoY
Assessed land
$170,800
Assessed improvement
$390,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
STEAM
Buildings
1
Stories
3
Units
1
Total area
6,182 SF
Lot
0.18 ac (7,955 SF)
Zoning code
BO-1
APN
WORC M:11 B:008 L:00022
UPID
US38-0406482
Jurisdiction
WORCESTER
Zoning & alternative use
BO-1 · Worcester, MA
Zoning BO-1 · permitted uses
BO-1 · Worcester, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Worcester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$750,000
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$905,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$780,000
OFFICE BUILDING
Est. value
$770,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$740,000
WAREHOUSE, STORAGE
Est. value
$620,000
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Construction
FRAME
Heating
STEAM
Stories
3
Buildings
1
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Jae Wor LLC
Entity
Mailing address
228 PARK AVE, WORCESTER, MA 01609-2248
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2025
$1,050,000
Jae Wor LLC
Oakley Properties LLC
Deed
$1,120,000 · Cornerstone Bank
Jul 19, 2018
—
Oakley Properties LLC
—
Deed
related
$1,400,000 · Avidia Bank
Apr 22, 2011
—
Oakley Props LLC
—
Deed Of Trust
related
$670,000 · Avidia Bank
Jun 26, 2008
$400,000
Oakley Prop LLC
Evans,robert E
Grant Deed
$405,000 · Avidia Bank
Sep 24, 2003
$1
Habitat For Hum Worcester
Evans,robert S
Grant Deed
related
—
Sep 10, 2003
—
Robert E Evans
—
Deed Of Trust
related
$200,000 · Hudson Savings Bank
Nov 21, 2002
—
Robert E Evans
—
Deed Of Trust
related
$100,000 · Hudson Savings Bank
Feb 8, 2000
—
Robert E Evans
—
Deed Of Trust
related
$75,000 · Hudson Savings Bank
May 12, 1995
—
Robert E Evans
—
Deed Of Trust
related
$250,000 · Metrowest Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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